Global Powder Metallurgy Market to Reach $12.5 billion by 2027 | Market Trends and Forecast
Industry Experts, Inc. released an updated 2022 version of the global market report entitled " Powder Metallurgy – A Global Market Overview ". As per the new report, the demand for Powder Metallurgy in Asia-Pacific is likely to record the fastest 2022-2027 CAGR of 9.2% in reaching a projected US$5.7 billion by 2027. Powder Metallurgy is a technique utilized for processing powdered raw materials and producing a variety of components based on iron & steel powders (ferrous) and aluminum, cobalt, copper, nickel and titanium, among others (non-ferrous). The components made using powder metallurgy are very strong and can withstand working environments that conventionally produced parts cannot. The demand for this procedure has been exhibiting quite impressive growth over the recent past, though the advent of COVID-19 has changed the scenario to some extent. The global demand for Powder Metallurgy components and parts is anticipated to be the largest for the Automotive sector,